Arbitral Digest

Matter

Bourlakova v Estate of Oleg Bourlakov & others (High Court BL-2020-001050)

Ploshchenko's claim against Edelweiss under ICAC Rules and English litigation over asset protection, arbitral disclosure, confidentiality and publication.

  • International commercial arbitration
  • Cross-border litigation
  • Parallel proceedings
  • Asset tracing and recovery
  • Interim measures
  • New York Convention
Applicable rules
ICAC Rules

Procedural record

  1. 17 November 2025England and Wales

    17 November 2025England and Wales

    Judgment of the High Court of Justice, Business and Property Courts of England and Wales, Business List (ChD) in case BL-2020-001050 dated 17 November 2025

    High Court of Justice, Business and Property Courts of England and Wales, Business List (ChD)

    Case no.
    BL-2020-001050
    Citation
    [2025] EWHC 3085 (Ch)
    Decision summary
    The court ordered Edelweiss to provide the Bourlakovas with documents and information concerning the Moscow ICAC arbitration, notify them of any award or enforcement process, give notice before paying any award, and provide a transcript or recording of any hearing. It held that the orders were necessary to protect Edelweiss’s assets and police its undertakings despite arbitral confidentiality.

    Participants

    Loudmila Bourlakova
    Representative
    Neil Kitchener KC (For: Loudmila Bourlakova · Veronica Bourlakova)
    Representative
    James Gardner (For: Loudmila Bourlakova · Veronica Bourlakova)
    Representative
    Mishcon de Reya LLP (For: Loudmila Bourlakova · Veronica Bourlakova)
    Hermitage One Limited
    Greenbay Invest Holdings Limited
    Veronica Bourlakova
    Representative
    Neil Kitchener KC (For: Loudmila Bourlakova · Veronica Bourlakova)
    Representative
    James Gardner (For: Loudmila Bourlakova · Veronica Bourlakova)
    Representative
    Mishcon de Reya LLP (For: Loudmila Bourlakova · Veronica Bourlakova)
    The Estate of Oleg Bourlakov
    Edelweiss Investments Inc
    Representative
    Graham Dunning KC (For: Edelweiss Investments Inc)
    Representative
    Matthieu Gregoire (For: Edelweiss Investments Inc)
    Representative
    Wallace LLP (For: Edelweiss Investments Inc)
    High Court of Justice, Business and Property Courts of England and Wales, Business List (ChD)
    Judge
    Andrew de Mestre KC

    Authorities cited

    12
    • Broad Idea Ltd v Convoy Collateral Ltd ([2021] UKPC 24)
      case
    • HMRC v Malde ([2020] EWHC 100, paragraphs 26-32)
      case
    • JSC BTA Bank v Ablyazov ([2011] EWHC 2664, paragraph 47)
      case
    • PJSC Commercial Bank Privatbank v Kolomoisky ([2018] EWHC 482, paragraphs 33 and 52)
      case
    • Mezhprom Bank v Pugachev ([2016] 1 WLR 781, paragraph 39)
      case
    • PJSC Commercial Bank Privatbank v Kolomoisky ([2022] EWHC 1445 (Ch), paragraphs 39 and 65)
      case
    • PJSC Commercial Bank Privatbank v Kolomoisky ([2025] BCC 393, paragraph 10)
      case
    • The Public Institution for Social Security v Al Wazzan ([2023] EWHC 1065 (Comm), paragraphs 43-53)
      case
    • Various Claimants v Standard Chartered Plc ([2025] EWHC 2136 (Comm), paragraphs 18-41)
      case
    • New York Convention, Articles V.1 and V.2(b)
      treaty
    • ICAC Rules, paragraphs 29(1) and 46
      rules
    • Civil Procedure Rules, Part 31
      statute

    2 months and 3 days later · 64 days

  2. 20 January 2026England and Wales

    20 January 2026England and Wales

    Judgment of the High Court of Justice, Business and Property Courts of England and Wales, Business List (ChD) in case BL-2020-001050 dated 20 January 2026

    High Court of Justice, Business and Property Courts of England and Wales, Business List (ChD)

    Case no.
    BL-2020-001050
    Citation
    [2026] EWHC 87 (Ch)
    Decision summary
    The court ordered temporary redactions to the 17 November 2025 judgment so it could be published while protecting the foreign arbitration’s confidentiality and Edelweiss’s position. It ordered publication in unredacted form after the final award, treated the related order as public, and permitted use of the unredacted judgment subject to the confidentiality undertaking.

    Participants

    Loudmila Bourlakova
    Representative
    Neil Kitchener KC (For: Loudmila Bourlakova · Veronica Bourlakova)
    Representative
    James Gardner (For: Loudmila Bourlakova · Veronica Bourlakova)
    Representative
    Mishcon de Reya LLP (For: Loudmila Bourlakova · Veronica Bourlakova)
    Hermitage One Limited
    Greenbay Invest Holdings Limited
    Veronica Bourlakova
    Representative
    Neil Kitchener KC (For: Loudmila Bourlakova · Veronica Bourlakova)
    Representative
    James Gardner (For: Loudmila Bourlakova · Veronica Bourlakova)
    Representative
    Mishcon de Reya LLP (For: Loudmila Bourlakova · Veronica Bourlakova)
    The Estate of Oleg Bourlakov
    Edelweiss Investments Inc
    Representative
    Graham Dunning KC (For: Edelweiss Investments Inc)
    Representative
    Matthieu Gregoire (For: Edelweiss Investments Inc)
    Representative
    Wallace LLP (For: Edelweiss Investments Inc)
    High Court of Justice, Business and Property Courts of England and Wales, Business List (ChD)
    Judge
    Andrew de Mestre KC

    Authorities cited

    5
    • Optis v Apple ([2025] EWCA Civ 1263, paragraphs 39-40)
      case
    • Manchester City Football Club Ltd v The Football Association Premier League Ltd & Ors ([2021] EWHC 711)
      case
    • Arbitration Act 1996, sections 67 and 68
      statute
    • Administration of Justice Act 1960, section 12(2)
      statute
    • Civil Procedure Rules, rules 5.4C(1)(b) and 5.4C(2)
      statute

    1 day later · 1 days

  3. 21 January 2026Arbitration

    21 January 2026Arbitration

    ICAC Award dated 21 January 2026

    International Commercial Arbitration Court

    Decision summary
    The tribunal dismissed Mr Ploshchenko's claim in full because he had not proved that the agreement relied on in support of his claim had been entered into.

    Participants

    Edelweiss Investments Inc
    Mr Ploshchenko
    International Commercial Arbitration Court

    8 months and 17 days later · 260 days

  4. 8 October 2026England and Wales

    8 October 2026England and Wales

    Judgment of the High Court of Justice, Business and Property Courts of England and Wales, Business List (ChD) in case BL-2020-001050 dated 8 October 2026

    High Court of Justice, Business and Property Courts of England and Wales, Business List (ChD)

    Case no.
    BL-2020-001050
    Citation
    [2026] EWHC 2548 (BP)
    Decision summary
    The court ordered Edelweiss to provide a recording of the Moscow arbitration hearing, declined at that stage to order deletion of disclosed documents or enforce the cross-undertaking in damages, and permitted limited use of disclosure materials in the related Korovin Arbitration. It ordered publication of the main judgment in full with a postscript recording the ICAC award’s rejection of Mr Ploshchenko’s claim.

    Participants

    Loudmila Bourlakova
    Representative
    Michael Fealy KC (For: Loudmila Bourlakova · Hermitage One Limited · Veronica Bourlakova)
    Representative
    James Gardner (For: Loudmila Bourlakova · Hermitage One Limited · Veronica Bourlakova)
    Representative
    Mishcon de Reya LLP (For: Loudmila Bourlakova · Hermitage One Limited · Veronica Bourlakova)
    Hermitage One Limited
    Representative
    Michael Fealy KC (For: Loudmila Bourlakova · Hermitage One Limited · Veronica Bourlakova)
    Representative
    James Gardner (For: Loudmila Bourlakova · Hermitage One Limited · Veronica Bourlakova)
    Representative
    Mishcon de Reya LLP (For: Loudmila Bourlakova · Hermitage One Limited · Veronica Bourlakova)
    Greenbay Invest Holdings Limited
    Veronica Bourlakova
    Representative
    Michael Fealy KC (For: Loudmila Bourlakova · Hermitage One Limited · Veronica Bourlakova)
    Representative
    James Gardner (For: Loudmila Bourlakova · Hermitage One Limited · Veronica Bourlakova)
    Representative
    Mishcon de Reya LLP (For: Loudmila Bourlakova · Hermitage One Limited · Veronica Bourlakova)
    The Estate of Oleg Bourlakov
    Edelweiss Investments Inc
    Representative
    Tim Chelmick (For: Edelweiss Investments Inc)
    Representative
    Wallace LLP (For: Edelweiss Investments Inc)
    High Court of Justice, Business and Property Courts of England and Wales, Business List (ChD)
    Judge
    Andrew de Mestre KC

    Authorities cited

    10
    • SDI Retail Services Limited v The Rangers Football Club Limited ([2021] EWCA Civ 790, paragraph 44)
      case
    • Sans Souci Ltd v VRL Services Ltd ([2012] UKPC 6, paragraph 13)
      case
    • JSC BTA Bank v Ablyazov (No. 10) ([2015] 1 WLR 4754, paragraphs 16-19)
      case
    • Pan Petroleum AJE Ltd v Yinka Folawiyo Petroleum Co Ltd ([2017] EWCA Civ 1525)
      case
    • City of Doncaster Council v Lloyd ([2025] EWHC 2358 (KB), paragraph 78)
      case
    • Tibbles v SIG Plc ([2012] 1 WLR 2591)
      case
    • Tchenguiz v Serious Fraud Office ([2014] EWCA Civ 1409, paragraph 66)
      case
    • Cheltenham & Gloucester Building Society v Ricketts ([1993] 1 WLR 1545 at 1551)
      case
    • DKH Retail Ltd & Ors v City Football Group Limited ([2024] EWHC 3231 (Ch), paragraph 44)
      case
    • Civil Procedure Rules, rule 40.12
      statute
  5. Date not availableArbitration

    Date not availableArbitration

    Arbitral costs award in Ploshchenko v Edelweiss Investments Inc

    International Commercial Arbitration Court

    Decision summary
    The tribunal awarded Edelweiss $500,000 in costs out of $796,146.56 claimed. It subsequently clarified that $100,000 of the difference was a deduction for breach of arbitral confidentiality in providing documents pursuant to the English Disclosure Order.

    Participants

    Edelweiss Investments Inc
    Mr Ploshchenko
    International Commercial Arbitration Court

Matter record

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Bourlakova v Estate of Oleg Bourlakov & others (High Court BL-2020-001050) · Matter